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Veikkaus Sales Decline as State Operator Prepares for Competitive Regulated Gambling in Finland
The Finnish state-controlled gambling monopoly, Veikkaus, has reported a decline in annual sales for 2024, anticipating significant changes in the market as it gears up for competition. The government plans to open the gambling market to regulated competition in 2026 or early 2027.
For the year 2024, Veikkaus recorded sales of €956.2 million, reflecting a 7.3% decrease year-on-year, while operating profit fell by 19.6% to €466.8 million. However, the company sees potential for recovery as it adapts to the competitive landscape.
Key Points
- Veikkaus reported a 7.3% decline in annual sales for 2024, with total sales reaching €956.2 million.
- Operating profit decreased by 19.6% due to new investments and increased lottery taxes.
- Digital sales accounted for 60% of Veikkaus’s overall revenue, despite an overall downturn in B2C operations.
- The B2B subsidiary, Fennica Gaming, experienced a sales rise of 181% to €3 million.
- Veikkaus plans to separate its operations into online gambling and traditional lottery segments in anticipation of increased competition.
Why Should I Read This?
This article provides essential insights into the future of the gambling industry in Finland, particularly for stakeholders and businesses in the gaming sector. Understanding Veikkaus’s challenges and strategies reveals broader trends in market regulation and competition that might impact various industry players.